Which of the following is held constant when constructing a production possibilities curve?
A. the amount of total resources used
B. combination of goods produced
C. the price level
D. all of these
Answer: A
You might also like to view...
If there is surplus of a good, then the quantity demanded ________ the quantity supplied and the price will ________
A) is less than; rise B) is less than; fall C) is greater than; rise D) is greater than; fall
At the profit-maximizing level of output for a perfectly competitive firm
A) average revenue equals average variable cost and price equals marginal cost. B) marginal revenue equals marginal cost and average total cost equals average fixed cost. C) price equals marginal cost. D) price equals average revenue and marginal cost equals average variable cost.
In the mid- to late 1980s, the United States had "twin deficits" because both ________ and ________ were negative
A) government saving; private saving B) saving; investment C) the current account; investment D) government saving; the current account
The most accurate quantitative time measure is:
a. Self-report or diary method b. Recall method c. Observation method d. A combination of all of the above methods to allow for cross checks.